Sell BTC around $11802.64 | 27 February 2018

Technical Observation:

In the recent past. BTC established a fresh weekly high $11802.64 after an unprecedented decline earlier this year. On the 4 hour chart attached. I see a key resistance zone ($11802-64-$11623.12), this is may sellers zone and while price is contained below it, I'll be keen to look for short position here with my take profit still fixed at $10000.00. On the way downwards, the key lines to look for include $9225.90, $7390.50 and $6024.30. If these lines breached to the lower side especially the last one, then I expect a surge towards $1000.00 or even lower. I may only consider a long position in case the price go beyond $11802.64.

Trade Signal.

Sell BTC around $11802.64 towards $6024.30

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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.